Every licensee hereunder shall deposit with the Commissioner of Assessments and Licenses a bond in the penal sum of five thousand dollars ($5,000.00) with a solvent and responsible surety company authorized under the laws of the State as surety thereon, acceptable to and approved by the Commissioner and the Director of Law, conditioned upon the faithful observance by the licensee, his or her agents, employees, concessionaires and lessees, of all of the provisions of law and ordinance relating to the operation of amusement places, and further conditioned that the licensee will indemnify any person who has secured a judgment based upon damage or loss, other than personal injury or death, by reason of the operation of such amusement park, the aggregate liability of such bond not to exceed the penal sum thereof. He or she shall also furnish a policy of liability insurance acceptable to and approved by the Commissioner and the Director of Law indemnifying the licensee for its legal liability for injury or death by reason of the carelessness or negligence of the licensee, his or her agents, employees, concessionaires or lessees, to one (1) person up to the sum of ten thousand dollars ($10,000.00) and to more than one (1) person in any one (1) accident up to the aggregate sum of one hundred thousand dollars ($100,000.00). Such bond and policy shall each contain a provision obligating the surety or insurance company thereon to give ten (10) days written notice to the Commissioner before cancellation of such bond or policy. If at any time, in the judgment of the Commissioner, such bond or policy of insurance is not sufficient for any cause, the Commissioner may require the licensee to replace such bond or policy with another approved by the Commissioner and the Director of Law. Any licensee who is a self-insurer and maintains an insurance fund adequate, in the judgment of the Director of Finance, to meet the requirements of the liability insurance herein set forth shall not be required to furnish a policy of liability insurance.
(Ord. No. 981-47. Passed 6-16-47)